Investor Channel is the communication channel between Pirelli and the financial community. Analysts, shareholders and web users can use the channel for direct dialogue with the Group. The blog is moderated by Pirelli Investor Relations.

PEERS & MARKETS

The week 23 to 27 August was characterised by falls on most European markets  (Milan -0.3%, London +0.1%, Paris -0.5%, Frankfurt -0.9%).
The negative data on the US economy stoked fears about the economic recovery, which were partially allayed by Friday’s figures on growth in the US GDP in the second quarter of 2010 (+1.6%, instead of the expected 1.3%) and the declarations by the president of the Federal Reserve on measures to support the economy.
Most sectors of the economy performed poorly (Auto -0.7%, Industrial -1.5%, Tech -2.6%).
European tyre shares outperformed the DJ Stoxx Auto with Pirelli at  +0.3% (€5.275). The stock confirmed its status as best performer in the FTSE Mib basket since the start of the year, with performance to date of +28.9 pp. The consensus target price was  €6.19 after the recent valuation upgrades (HSBC Buy at €6.8, SG Buy at €6.3, Banca IMI NAV at  €6.9). The most prevalent recommendation was Buy (78% of analyst coverage).
The price of Pirelli Real Estate did not change, closing at  € 0.347.
 

Tags: , ,

Categories: Peers & Markets Pirelli


Write a comment »

PEERS & MARKETS

PEERS&MARKETS 28.06-02.07.10Fears about the economy pushed European stock exchanges down, closing over 4 percentage points down on the week 28 June to 2 July 2010 (Milan, -4.4%, London –4.1%, Paris –4.9%, Frankfurt –3.9%). Sales were stimulated by the worse-than-expected US macroeconomic data (unemployment, consumer confidence and property sales). 
Pirelli shares (4% down at € 0.444) fell less than other European auto industry shares (reference index –4.8%) due in part to the positive views expressed by Equita (BUY with a Target Price of € 0.54) and Chevreux (Outperform and a Target Price up from € 0.51 to € 0.55 ), which saw Pirelli Tyre estimates rise against the market trend.  .
The average consensus valuation of Pirelli & C was  € 0.53, with 83% Buy recommendations on a coverage of 21 brokers.
The negative data on the US property market pushed real estate shares down, with Pirelli RE at € 0.322 (-.83%).

Tags: ,

Categories: Peers Analysis Pirelli


Write a comment »

PEERS & MARKETS

PEERS&MARKETS 01.04-09.04.10A negative week for the European tyre sector, penalised by the progressive rise in the cost of natural rubber, which has reached new peaks.
Pirelli closed the week at €0.436, down by 4%, in line with the trend of its main peers (Michelin -4%, Nokian -4.2%).
During the week Société Générale upgraded Pirelli to a TP of  €0.54 (from €0.50) after reviewing its  assessment of the tyre business while Intermonte expressed a neutral view  on Pirelli & C  given the current trend in prices of raw materials, its assessment of the share,  with TP at €0.50, remained unchanged.
The current Consensus Target Price is around € 0.52, with Buy as the prevailing recommendation (88% of coverage by 19 brokers).
Pirelli RE closed the week at €0.459, slightly down from 0.5%.

Tags: ,

Categories: Peers & Markets Pirelli Pirelli RE


Write a comment »

« Older Entries

Newer Entries »


4 - 6 of 18 for the tag: Buy